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Grandiose plans bankrupting the nation

Letters Policy

The Dispatch welcomes letters to the editor from readers. Typed letters of 200 words or
fewer are preferred; all might be edited. Each letter must include name, home address and daytime
phone number.
Dispatch.com also posts letters that don't make it to print in
The Dispatch.

In the March 29 letter “Criticism of the president ignores the facts,” the writer tried to blame
President Barack Obama’s woes on the Republicans and their steadfast opposition to the wonderful
ideas of the fearless leader.

The letter began with a slap at the money spent trying to win elections, and slid downhill from
there to support an increased minimum wage as a way to improve our sagging economy. The letter then
listed a few small nuggets of shiny good news pulled from the ocean of bad news that is the Obama
administration.

There is not the time nor space to rebut all of the bad ideas put forth. But it is widely
accepted that as prices go up for an item, people use less of it. Thus, if you raise the price of
labor, particularly at the low end of the market where there is an opportunity to automate as a way
to reduce labor costs, management will be forced by competitive markets to eliminate jobs.

As to the good news about the stock market and housing prices, there is a bubble forming that
will burst. You don’t print $85 billion a month for years on end with no assets behind it and not
have a significant and painful correction. The coming correction has the potential to dwarf the
Depression of the 1930s.

Some of the Republicans who have been standing in the way of Obama’s policies are trying their
best to save our children from some of the worst ideas that have ever come from our
representatives.

Thus, we are belatedly seeing resistance to Obamacare, minimum-wage increases, environmental
mandates and a host of other poorly thought-out but grandiose programs that, if carried out, would
turn all of America into Detroit.